How I know I am a tax wonk: This Tax Policy Briefing Book from the Tax Policy Center (a collaboration by left-of-center Brookings and the Urban Institute) is phenomenally fascinating.
Some random musings on improving the tax code:
- Eliminate the Alternative Minimum Tax (AMT)
- Lower marginal rates for middle-class income brackets
- Simplify the EITC
- Eliminate the corporate income tax
- Eliminate every tax deduction and credit that is politically tenable
And my pet cause: Strive toward a consumption tax. I suspect the solution that maximizes efficiency, simplicity, and likelihood is the elimination of the current basket of savings incentive options (IRA, 401k, et cetera) and their replacement with a single, simple program that allows unlimited contribution.
